Trust Wallet and Mercuryo have partnered to support out-of-band cryptocurrencies for more than 30 digital assets.
while Digital currencies To allow participants to store value in virtual assets built on decentralized networks, many real-world payments still require paper-based instruments for settlement in many countries and jurisdictions.
Self-custodial giant Trust Wallet has teamed up with payments infrastructure company Mercuryo to enable users to convert their cryptocurrencies into real money, a process it calls “off-ramping.” Commenting on the collaboration, Mercuryo co-founder and CEO Peter Kozyakov said that “access to seamless out-of-band service” is just as important as storing digital assets securely.
According to a press release, Trust Wallet users can convert more than 30 virtual currencies into euros and US dollars through the service, which is available in more than 135 countries around the world.
The joint initiative represents another effort by Web3 companies to support mass adoption and increase use cases for digital assets, particularly across Europe, with historic blockchain markets coming into effect to regulate cryptoassets (MiCA) soon.
Other providers such as Strike, Tether, Robinhood, and Kraken, to name a few, have expanded their services to Europe in recent months. The region is also a hotspot for virtual currency banking, with more than 63 institutions offering digital asset services, according to crypto.news.